Ft

Hungary's official currency is the forint. It used to be divided into 100 filler coins, however those coins are no longer in use. The forint was introduced on August 1, 1946, and it remained largely steady until the 1980s. This was an important step in the post-World War II stabilization of the Hungarian economy. The early 1990s shift to a market economy had a negative impact on the forint's value; inflation peaked in 1991 at 35%. Inflation between 2001 and 2022 was under ten percent, and the forint has been deemed completely convertible. In May 2022, inflation rose to 10.7% as a result of the Ukrainian War and general economic unrest. Although there is no set deadline for adopting the euro under the current administration, the long-term goal of the Hungarian government may be to do so as a member of the European Union.